WS #15453
Bitcoin has dropped below $84,000 after Bitmine, a major institutional buyer, halted its token purchase program. This withdrawal of demand coincides with a broader risk-off environment driven by rising Treasury yields and geopolitical uncertainty. The halt in purchases removes a key support level for the asset, and polymarket data suggests traders are pricing in a higher probability of further near-term declines, potentially testing lower support levels around $82,000.
Crypto Market Weakness
Bitcoin has dropped below $84,000 after Bitmine, a major institutional buyer, halted its token purchase program. This withdrawal of demand coincides with a broader risk-off environment driven by rising Treasury yields and geopolitical uncertainty. The halt in purchases removes a key support level for the asset, and polymarket data suggests traders are pricing in a higher probability of further near-term declines, potentially testing lower support levels around $82,000.